Fjordbank Mors has collapsed and will be taken over by Finansiel Stabilitet, a state company responsible for managing failed banks, Financial Times reports. About 450 of its 73,000 customers will not be fully covered under the $140,000 guarantee by Danish deposit insurance rules.

The bank had total liabilities of about $2.2 billion. Danish financial services company Nykredit is estimated to face losses of around $19.1 million on loans given to Fjordbank Mors, adds The Wall Street Journal.

Click here for the story from Financial Times.

Click here for the additional coverage from The Wall Street Journal.